Meru Soars 19% on Q4 Rev Beat, Surprise Break-even Profit Line

By Tiernan Ray

Shares of wireless LAN equipment maker Meru Networks (MERU) are TK after the company this afternoon reportedQ4 revenue that topped analysts’ expectations, and delivered break-even earnings instead of an expected loss.

Revenue in the three months ended in December rose 7%, year over year, to $30.2 million.

Analysts had been modeling $27 million and a 6-cent loss per share.

CEO Dr. Bami Bastani remarked that “customer interest in our 802.11ac products surpassed all expectations, leading to record revenues and non-GAAP operating income profitability in the fourth quarter.”

The company’s “leadership in the newest Wi-Fi standard will be strengthened by our rollout of additional 802.11ac products,” he added, and “we expect this to lead to above-market growth in the second half of the year, with even greater financial discipline around operating expenses in 2014.”

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.